Kuwait Fund Claims Immunity in Bonus Fight With Ex-Managers
- Wealth fund says managers improperly raised own salaries
- Fund says immunity means it doesn’t need to provide documents
Photographer: Tasneem Alsultan/Bloomberg
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Kuwait’s sovereign wealth fund, in the middle of a lawsuit with former managers at its U.K. office, says diplomatic immunity means it can avoid handing over “sensitive” documents to the court.
The Kuwait Investment Authority is challenging an employment claim from a former executive, Simon Hard, saying he raised salaries and bonuses while his boss was away. The fund’s London branch is appealing a “remarkable and invasive” order that it provide internal emails and investment mandates.